Financial Covenant Required Actual Complies definition

Financial Covenant Required Actual Complies. Measured at all Times: Minimum Cash with Bank - when aggregate Advances 1 ≤ $3,000,000 $3,000,000 Yes No - when aggregate Advances > $3,000,000 $3,500,000 Yes No Measured on a Quarterly Basis Maximum Total Liabilities to Tangible 1.60:1.00 Yes No Net Worth Minimum EBITDA For 3 months ending March 31, 2006 $208,422 Yes No For 3 months ending June 30, 2006 $440,570 Yes No For 3 months ending September 30, 2006 $768,503 Yes No For 3 months ending December 31, 2006 and the last day of each subsequent 3 month period thereafter $1,158,307 Yes No 1 includes Advances and Equipment Advances Comments Regarding Exceptions: See Attached. BANK USE ONLY Received by: Sincerely, AUTHORIZED SIGNER Date: SIGNATURE Verified: TITLE AUTHORIZED SIGNER Date: DATE Compliance Status Yes No
Sample 1
Financial Covenant Required Actual Complies. Maintain as indicated: Liquidity $ 4 $ Yes No Available Takeout Commitment Amounts $ $ Yes No EBITDA $ $ Yes No The following financial covenant analyses and information set forth in Schedule 1 and Schedule 2 attached hereto are true and correct as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) SUNLIGHT FINANCIAL LLC By: Name: Title: BANK USE ONLY Received by: AUTHORIZED SIGNER Date: Verified: AUTHORIZED SIGNER Date: Compliance Status: Yes No 4 Greater of [***]% of [***] percent ([***]%) of the sum of all outstanding principal amounts of any Advances and $[***]
Sample 1

Examples of Financial Covenant Required Actual Complies in a sentence

  • Reporting Covenant Required Complies Monthly financial statements with CC Monthly within 30 days Yes No Annual financial statements (CPA Audited) FYE within 180 days Yes No Borrowing Base Certificate w/ A/R and A/P agings, if required Monthly within 30 days when borrowing Yes No 10-Q, 10-K and 8-K Within 5 days after filing with SEC Yes No Projections Annually, within 30 days of Board approval Yes No Financial Covenant Required Actual Complies Maintain on a Monthly Basis: Minimum.

  • The following Intellectual Property was registered after the Closing Date (if blank, read “None”) Financial Covenant Required Actual Complies Minimum Adjusted Quick Ratio (Quarterly) 2.0:1.0 :1.0 Yes No Minimum EBIT (Quarterly) * $ Yes No *See Section 6.7(b) of Agreement Comments Regarding Exceptions: See Attached.

  • Reporting Covenant Required Complies Quarterly financial statements1 Quarterly within 45 days1 Yes No Annual (CPA Audited) FYE within 90 days Yes No 10-Q, 10K and 8-K Within 5 days after filing with SEC Yes No Financial Covenant Required Actual Complies Maintain on a Quarterly Basis: Minimum Quick Ratio 1.75:1.002 _____:1.00 Yes No Minimum Revenue 3 $_____ Yes No Profitability Quarterly 4 $___________ Yes No 1 Monthly when unrestricted cash is less than $25,000,000.

  • Adjusted Quick Ratio > 1.50:1.0 ___:1.0 Yes No Financial Covenant Required Actual Complies Adjusted Quick Ratio 1.25:1.00 ___:1.0 Yes No Distributions to Subsidiaries For the period ending _______________ $_______________(year-to-date) Bank Accounts of Subsidiaries Name of Subsidiary Name of Bank Account Balances 1.

  • Required Complies ------------------ -------- -------- Compliance Certificate Monthly within 30 days (when borrowing) Yes No 10-Q, 10-K with consolidating statements Within 5 days after filing with SEC Yes No Financial Covenant Required Actual Complies ------------------ -------- ------ -------- Maintain on a Quarterly Basis: Minimum Quick Ratio 1.75:1.0 _____:1.0 Yes No Profitability $1.00 $________ Yes No ------------------------------------------------- Comments Regarding Exceptions: See Attached.

  • Yes No Financial Covenant Required Actual Complies Maintain on a Quarterly Basis: Minimum Trailing Six Month EBITDA (See Schedule 1) :1.0 Yes No Minimum Subscription and Support Revenue (See Schedule 1) $ Yes No Streamline Period Applies Monthly Adjusted Quick Ratio Not less than 0.75:1.00 Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

  • Monthly financial statements with Compliance Certificate Monthly within 30 days Yes No Annual financial statement (CPA Audited) + XX XXX within 180 days Yes No Financial Covenant Required Actual Complies Maintain on a Monthly Basis: Minimum Quick Ratio 1.50:1.0 ___:1.0 Yes No The following financial covenant analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

  • Financial Covenant Required Actual Complies Capital Event $ 3,000,000 by 11/15/14 $ Yes o No o The following financial covenant analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

  • Maintain: Adjusted Quick Ratio (at all times, tested monthly) > 1.25 : 1.0 : 1.0 Yes No Financial Covenant Required Actual Complies Maintain as indicated: Minimum Detection Revenue (six month period, tested quarterly) $ * $ Yes No Adjusted EBITDA (six month period, tested quarterly) $ ** $ Yes No * As set forth in Section 6.9(b) of the Agreement.

  • Financial Covenant Required Actual Complies Capital Event $ 3,000,000 by 10/31/14 $ Yes o No o The following financial covenant analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

Related to Financial Covenant Required Actual Complies

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Financial Covenant means the covenant set forth in Section 7.09.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Quarterly Compliance Certificate has the meaning specified in Section 4.1(d) of the Base Indenture.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 8.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Financial Performance Covenants means the covenants of the Borrower set forth in Section 10.11.

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Tax Compliance Certificate as defined in Section 5.9.2(b)(iii).

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Annual Statement of Compliance As defined in Section 3.13.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.